According to Wyoming Senator Cynthia Lummis, President Trump supports the Bitcoin bill and has formed a team of experts at the White House, planning to introduce landmark digital asset legislation in the coming weeks.
At the Bitcoin 2025 conference held in Las Vegas, Nevada, Lummis stated that she is bringing the Bitcoin bill "to the attention of the American public and the world," emphasizing that "President Trump supports the bill."
In March of this year, Lummis reintroduced the Bitcoin bill—this landmark legislation guides the U.S. government to acquire 1 million Bitcoins over five years. The acquisition plan will be financed using existing funds from the Federal Reserve system and the Treasury.
As reported by Cointelegraph, the Trump administration reiterated the necessity of acquiring Bitcoin in a "budget-neutral manner" to avoid increasing the taxpayer burden.
Source: CryptoGoos
At the Bitcoin conference, Lummis mentioned that the Trump administration has formed a team specifically to address "digital asset issues," including legislative work on stablecoins, market structure, and Bitcoin strategic reserves.
"They may be rolled out in this order," she said.
"The Senate Banking Committee has already passed the stablecoin bill," Lummis said, adding, "We are close to being ready to submit it for a vote by the full chamber. We have spent countless hours negotiating with the minority party to meet their demands, and we should vote on this a week before the recess ends."
The White House appears to be aligned with Senator Lummis's position.
Last week, Trump's chief cryptocurrency advisor David Sacks stated that the GENIUS stablecoin bill would "smoothly pass" the Senate with bipartisan support after a key procedural vote on May 19.
On May 19, the Senate advanced the GENIUS bill's debate with a vote of 66 to 32. Source: U.S. Senate
GENIUS refers to the "Guiding and Establishing American Stablecoin Innovation Act," which may be the most comprehensive federal legislative push to establish a legal framework for dollar-pegged stablecoins.
Stablecoins have become one of the most representative use cases of blockchain technology, and some industry experts believe they help reinforce the dollar's dominant position as the global reserve currency.
According to CoinMarketCap data, collateralized dollar-backed stablecoins like Tether's USDT and Circle's USDC account for over 85% of the $250 billion market share.
Original article: “Senator Lummis: Trump Supports the Acquisition Bill for One Million Bitcoins (BTC)”
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